New Zealand Price Comparison Research
Discover how Wise outperforms 5 major New Zealand banks, PayPal, and Western Union, offering savings of up to 6x on international transactions.
Japan Price Comparison Research
An independent research team compared Wise to 5 Japanese bank accounts as well as Revolut. They found that we’re on average 1x cheaper for spending ¥15,000 abroad. Wise is also on average 7x cheaper to send ¥15,000 abroad. Our fees to withdraw ¥15,000 from an ATM abroad are not significantly cheaper and close to the same price as the compared providers. This is based on the prices offered by Wise Payments Japan K.K. during the research period.
Research methodology
The competitor research was collected in January 2023 during a 5 day period (23/01/2023 - 27/01/2023).
They looked at data across multiple countries, currencies, and price points to make sure any price claims we make are fair and accurate. The data was collected by simulating a transfer using live accounts on the providers website, during standard trading hours and at the same time every day, whenever possible, to ensure consistency across the comparison.
The research scope looked at the following, across BRL, CNY, EUR, KRW and USD using ¥15,000 as the transaction value:
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The cost to send money abroad from an account
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The cost to spend money abroad using a debit card
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The cost to withdraw money abroad from an account via an ATM
The costs collected for sending money abroad are made up of both the foreign transaction fee and any exchange rate markup. The exchange rate markup is a percentage added to the mid-market exchange rate by a provider when they sell you a currency. The costs collected for spending money abroad and withdrawing money abroad from an account via ATM are only made up of foreign transaction fees.
The research and results
1. Total cost to send ¥15,000**. Overall, Wise is 7x cheaper.
JPY > BRL: Wise is 4x cheaper
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Wise: ¥324.91
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MUFG: Not offered
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Rakuten: ¥2,889.06
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: Not offered
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Sony: Not offered
JPY > CNY: Wise is 3x cheaper
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Wise: ¥308.03
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MUFG: Not offered
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Rakuten: ¥2,202.22
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: Not offered
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Sony: Not offered
JPY > EUR: Wise is 12x cheaper
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Wise: ¥185.03
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MUFG: ¥3,159.18
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Rakuten: ¥1,892.60
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Revolut: ¥0.00
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Shinsei Bank: ¥2,170.14
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SMBC: ¥3,603.58
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Sony: ¥3,000.35
JPY > KRW: Wise is 3x cheaper
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Wise: ¥342.13
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MUFG: Not offered
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Rakuten: ¥2,158.67
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: Not offered
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Sony: Not offered
JPY > USD: Wise is 11x cheaper
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Wise: ¥200.01
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MUFG: ¥3,121.22
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Rakuten: ¥1,860.98
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Revolut: ¥0.00
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Shinsei Bank: ¥2,120.95
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SMBC: ¥3,605.28
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Sony: ¥2,999.95
2. Fees to spend ¥15,000 using a debit card. Overall, Wise debit card is 1x cheaper.
JPY > BRL: Our fees are not significantly cheaper and close to the same price
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Wise: ¥216.00
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MUFG: ¥0.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: ¥0.00
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Sony: ¥268.50
JPY > CNY: Our fees are not significantly cheaper and close to the same price
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Wise: ¥190.50
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MUFG: ¥0.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: ¥0.00
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Sony: ¥268.50
JPY > EUR: Wise is 1x cheaper
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Wise: ¥102.00
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MUFG: ¥0.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: ¥600.00
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SMBC: ¥0.00
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Sony: ¥0.00
JPY > KRW: Wise is 1x cheaper
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Wise: ¥106.50
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MUFG: ¥0.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: ¥0.00
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Sony: ¥268.50
JPY > USD: Wise is 1x cheaper
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Wise: ¥106.50
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MUFG: ¥0.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: ¥600.00
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SMBC: ¥0.00
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Sony: ¥0.00
3. It’s free to withdraw ¥15,000 internationally with Wise compared to the 5 banks and Revolut in Japan
JPY > BRL: Free withdrawal with Wise
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Wise: ¥0.00
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MUFG: ¥110.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: ¥0.00
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Sony: ¥488.50
JPY > CNY: Free withdrawal with Wise
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Wise: ¥0.00
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MUFG: ¥110.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: ¥0.00
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Sony: ¥488.50
JPY > EUR: Free withdrawal with Wise
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Wise: ¥0.00
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MUFG: ¥110.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: ¥600.00
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SMBC: ¥0.00
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Sony: ¥268.50
JPY > KRW: Free withdrawal with Wise
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Wise: ¥0.00
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MUFG: ¥110.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: Not offered
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SMBC: ¥0.00
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Sony: ¥488.50
JPY > USD: Free withdrawal with Wise
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Wise: ¥0.00
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MUFG: ¥110.00
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Rakuten: ¥462.00
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Revolut: ¥0.00
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Shinsei Bank: ¥600.00
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SMBC: ¥0.00
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Sony: ¥268.50
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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